§ SIR SAMUEL MONTAGU (Tower Hamlets, Whitechapel)I beg to ask the Secretary of State for India whether his attention has been called to the great increase in late years of the 1475 fiduciary issue of notes by the Indian Government, and to the large contraction of the paper currency, as shown by the fact that in 1893, when the mints were closed, there were: Rx.26,401,820, total notes in circulation; Rx.18,401,820, coin and bullion held; Rx.8,000,000, Government securities; whereas there were on 31st May 1897; Rx.22,861,621, total notes in circulation; Rx.12,861,626, coin and bullion held; Rx.9,999,994, Government securities; whether the Indian Government intend to coin on t heir own account silver rupees sufficient, to place their paper currency on a sounder basis: and whether they will in future publish their accounts as regards currency weekly instead of monthly, so as to enable prudent' bankers and merchants to provide in time against the possible danger of an extreme scarcity of currency in India?
§ LORD GEORGE HAMILTONThe figures given in the hon. Member's Question are correct. I am not aware of any intention on the part of the Government of India to coin silver on their own account. As to the publication of accounts, which now takes place monthly in accordance with the provisions of the Act No. 20 of 1882, I will communicate with the Government of India, but I can give no promise that the hon. Member's suggestion will be accepted.